SpaceX’s valuation fell to $2.52 trillion after a 9% decline, reversing gains from its $135-per-share debut and $75 billion IPO.
SpaceX shares fell 9% on Thursday, extending a two-day decline that erased part of the stock’s 40% post-IPO rally. The drop followed a 5% loss on Wednesday, capping a volatile week for the newly public company.
The stock debuted at $135 per share and surged to a peak valuation exceeding $2.52 trillion, briefly surpassing Microsoft and Amazon. The $75 billion IPO set a record, eclipsing Saudi Aramco’s 2019 offering. Despite the pullback, SpaceX remains among the top four most valuable U.S. companies.
Elon Musk retains over 82% of voting power and a stake valued at more than $1 trillion, consolidating control. The company also added Roelof Botha to its board as an independent director with audit committee responsibilities.